APC hails China’s Naira policy as win for Tinubu’s economy
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The Lagos State Chapter of the All Progressives Congress (APC) has applauded China’s decision to accept the Nigerian Naira for transactions, describing it as a landmark in the nation’s economic diplomacy and a major boost to recovery efforts under President Bola Ahmed Tinubu.
In a statement issued on Monday, the party’s spokesman, Seye Oladejo, said the policy would ease Nigeria’s dependence on the US dollar for international trade while offering immediate relief to businesses, importers, and manufacturers.
“China remains one of Nigeria’s largest trading partners. The ability to settle transactions directly in Naira means lower costs, faster payments, and improved ease of doing business. It will also make imports of essential goods, machinery, and technology cheaper while opening wider access for Nigerian exports into Chinese markets,” Oladejo said.
According to him, the decision will reduce pressure on the foreign exchange market, strengthen the Naira, and ensure greater economic stability. He added that the policy would encourage local producers to expand operations, confident that their goods could now access one of the world’s largest consumer markets without heavy reliance on the dollar.
The APC further argued that China’s acceptance of the Naira would bolster investor confidence globally, attract fresh foreign direct investments, and align Nigeria with the growing global shift toward a multipolar financial system where emerging economies push their currencies into trade.
Taking aim at critics, Oladejo said the move “shatters their doomsday narrative,” stressing that under Tinubu’s leadership, “Nigeria is firmly on the path to economic recovery and growth.”
The party also congratulated President Tinubu, the Central Bank of Nigeria, and the Ministry of Finance for what it described as a “visionary achievement,” while urging manufacturers, traders, exporters, and financial institutions to maximise the benefits of the development.
“This is not just about foreign exchange; it is about the repositioning of Nigeria as a strong player in global trade. The opportunities that come with this breakthrough must be embraced fully by our business community,” Oladejo added.
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